Home Buying in 11550>Question Details

jcocegueda, Home Buyer in Hempstead, NY

is first time buyers credit still available for new buyers for 2013?

Asked by jcocegueda, Hempstead, NY Tue Mar 19, 2013

if i have good credit like 660 score. i have the income can i qualified for no downpayment credit for first time home buyers for 2013.

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Answers

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YES there are no down loans availble for first time home buyers. This is why it is so critical to find loan officers who know the lending business and first time buyer programs.

Some States and Cities offer assistance and grants that result in NO Down Payment for first time home buyers. Go to your Your-Road-Home.com, scroll down the left colum to article #8, its not in order so scroll way down, in the right colum of #8is a list of state agencies and links for grants and assistance. Also read the article Consultation Interviewing Loan Officers. Gather lots of information so as you interview loan officers you will recognize if they are famiiar with the first time buyer loans available to you. Also read the article on USDA loans-No Money Down.
After you have gathered info you will find loan officers offering their service through Trulia and some are very good.
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Best of Luck and most importantly dont let anyone discourage you from goal.
Stephen Webber
2 votes Thank Flag Link Wed Mar 20, 2013
The frist time credit for buyers is over for a while now.There is a program with no money down but there is no homeowner who would take there home off the market and go to contract with out at least 3 % - 3.5% down.You should speak with someone to go over this
0 votes Thank Flag Link Tue Mar 19, 2013
See links for possible helpful information regarding home buying programs....also visit with any licensed loan officer; be aware that a mortgage pre-approval letter is required in order to determine your price range and for any offers to be taken seriously.
http://www.hud.gov/local/index.cfm?state=ny&topic=homeow… http://www.nyshcr.org/Agencies/SONYMA/
0 votes Thank Flag Link Tue Mar 19, 2013
All loans are going to require a down payment. There is no such thing as 100% financing anymore. What you do have is loans like FHA, SONYMA, My Community, HomePath, among others. These loan programs will allow you to put as little as 3% down payment, and some of them even allow down payment assistance grants to be used towards the minimum required down payment.

I strongly suggest you meet face-to-face with a Loan Officer and see what your options are. Down payment is not the only thing that will determine if you qualify, so it is important that you allow a Loan Officer to review all other necessary aspects.

If you need a Loan Officer, I am always available to meet in my office, not too far from Hempstead. Good luck!

If my response was helpful, consider clicking BEST ANSWER!

Javier Meneses
Senior Loan Officer
NMLS #23130
STERLING NATIONAL BANK
310 Crossways Park Drive
Woodbury, NY 11797
jmeneses@snb.com
(516) 606-9648
0 votes Thank Flag Link Tue Mar 19, 2013
You mean other then the VA home loan that is 100% financing
Flag Fri May 3, 2013
Please see the link below which can help with your questions. http://www.irs.gov/uac/First-Time-Homebuyer-Credit:-Scenarios
0 votes Thank Flag Link Tue Mar 19, 2013
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